Mortgage Loans

Home Mortgage Loans

Decisions made locally, flexible payments and terms, minimal closing cost. Visit the SVBT Online Mortgage Center to get pre-approved or approved in 20 minutes or less! Our online calculators are great tools to get you started on some of your own financial scenarios.

We offer the following home mortgage loans!

Construction

If you're planning to build a new home or looking to remodel your existing home, let Springs Valley construct the perfect financing option for you. With our Home Construction Loan you will enjoy peace of mind with the Flexibility to lock in your interest rate and the Security of knowing your rate and payment at the time of closing. 

Non-Traditional Financing 

For those that ask, “Can I build my home with post frame construction and finance the cost?” The answer is YES with Springs Valley. Construction loans for post-frame homes are typically not the same financing as conventional style homes and options may vary if you are your own general contractor.  Contact a Springs Valley Mortgage Loan Officer for access to all the best rates and terms for your home mortgage.  

Home Equity Loan

Let the equity you have in your home, work for you. If you have any questions or would like to speak to a Mortgage Loan Officer, please contact us.

Loan Error Resolution Form

First-Time Home buyer

Springs Valley has attractive programs designed with first-time home buyers in mind. These first-time home buyer loans are designed to offer lower down payment requirements, assistance with down payments, closing costs, and flexible rates.

To learn more about our First-Time Home Buyer Programs, contact us today!  Contact Your Lending Team

Veterans Administration (VA)

Qualified Veterans have the opportunity to purchase a home with no down payment required. VA Loans can also be used to refinance a home at a lower interest rate to lower your monthly payment or consolidate debt.

• Uses: Purchase and refinance
• Rates: Fixed and adjustable rate
• Closing Cost: VA rules limit the amount of closing costs you’re required to pay
• Types: Primary residence 1-4 units
• Down payment: Little to no down payment
• Credit Score: See us for qualifications
• Private Mortgage Insurance (PMI): Most low, down payment mortgages require PMI which raises your monthly payments. VA Loans save you money because PMI is not required.

Federal Housing Administration (FHA)

FHA Loans are insured mortgage loans that are backed by the Federal Housing Administration (FHA). The federal government insures the loan in order to reduce their risk of loss if a borrower defaults on their mortgage payments. Typically, an FHA Loan is one of the easiest types of home loans to qualify for. There are several qualifications you'll learn about when you apply for your loan and speak with a mortgage loan officer at Springs Valley.

• Uses: Purchase and refinance
• Rates: Fixed and adjustable rate
• Closing Cost: Average 2%-5% of loan amount but can be gifted along with down payment
• Down payment: Low down payment
• Credit Score: See us for qualifications

US Department of Agriculture (USDA)

USDA rural development loans are designed to help medium income American's buy a home in rural and suburban communities. They are the most competitive loan in the market place. Our USDA loan experts can help see if you qualify to buy your new home.

• Down payment: No money down
• Rates: Low interest rates
• Term: Up to 30 year fixed
• Government guaranteed
• Credit Score: See us for qualifications
• Closing Cost: You have the ability to roll in your closing costs into the loan

Professional Loan Program

We understand the unique financial needs of professionals. Whether you're still finishing residency or are a successful partner in a fast-growing practice, professional loans from Springs Valley Bank & Trust Company provide multiple financing options to help you manage your personal and professional expenses.

• Finance up to $750,000 with no down payment and up to $1 Million (Established Professionals up to $1.5 Million) with a down payment of 5% required when purchasing a home
• No Private Mortgage Insurance (PMI) required
• Fixed and Adjustable Rate Mortgage (ARM)* loans available 

*After the ARM period, it is possible that the borrower's payment may increase substantially over the remaining term of the loan.
1. New Professional Loan Program is ideal for licensed Interns, Residents or Fellows in medical residency or scheduled to begin residency within 90 days of closing on a new home, or who have completed residency within the last 12 months and have started working for a hospital or physician group.
2. Established Professional Loan Program is ideal for licensed Non-Residents/Interns/Fellows (MD, DO, DPM, DDS, DMD, DMV. DC, or OD) who are employed with a hospital, dental center or physicians/dental group for more than one year or have been self-employed as a medical doctor or dentist for at least two years.
Terms and conditions apply. The Professional Loan Program is restricted to primary, owner-occupied residences only. Investment properties, second homes, construction-to-perm and lot loans are ineligible. If the borrower can document that the student loan payment is deferred or in forbearance for at least 12 months after closing, the student loan payment can be excluded from the debt-to-income calculation. Property insurance required.
Loans are subject to credit review and approval.